According to the source, Hyperliquid led all blockchains by 24-hour fees on Oct 17, 2025, ahead of BNB Chain, Tron, and Ethereum (source: the source). Elevated fee leadership on Hyperliquid typically reflects higher derivatives trading volumes and utilization on its perps exchange rather than L1 gas consumption (source: Hyperliquid documentation). Traders should monitor funding rates, open interest, and order-book depth on Hyperliquid to assess whether liquidity is consolidating and whether BTC and ETH basis is tightening (source: Hyperliquid Stats). To confirm persistence and cross-chain rotation, track daily rankings and time series on independent fee dashboards that report 24-hour blockchain fees (source: DeFiLlama Fees; CryptoFees).

According to @paoloardoino, 40% of all blockchain transaction fees are attributed to sending Tether's digital dollar USDt across nine major chains, including Ethereum (ETH), Tron (TRX), TON, Solana (SOL), Binance Smart Chain (BSC), Avalanche, Arbitrum, Polygon, and Optimism. This significant volume is driven by widespread adoption in emerging markets, where hundreds of millions use USDt to safeguard against local currency instability. Traders should note USDt's dominant role in blockchain fee generation, indicating strong ongoing demand and liquidity for stablecoin-based trading pairs and cross-chain activity. Source: @paoloardoino.

According to Crypto Rover (@rovercrc), a single Bitcoin transaction recently incurred a record fee of 1.0 BTC, equivalent to $120,381 USD, on May 22, 2025 (source: Twitter). This unusually high fee highlights ongoing network congestion and potential issues with transaction prioritization on the Bitcoin blockchain. For traders, this event signals potential volatility in BTC transaction costs, which can impact arbitrage, on-chain DeFi activity, and trading strategies reliant on fast settlement. Elevated fees may prompt shifts in trading volume to layer-2 solutions or alternative blockchains, affecting overall market liquidity and transaction throughput (source: Crypto Rover, Twitter).

According to @MilkRoadDaily, decentralized application (dApp) fees have surpassed traditional blockchain fees, reaching $1.8 billion compared to $1.4 billion for blockchains in the first quarter of 2025. This shift signals a potential trend favoring dApp growth over blockchain networks for revenue streams. Traders might consider this shift as a strategic point for investment opportunities, focusing on platforms with high dApp activity. [source: @MilkRoadDaily]

According to @MilkRoadDaily, decentralized application (dApp) fees have reached $1.8 billion, surpassing the $1.4 billion in blockchain fees during the first quarter of 2025. This trend indicates a significant shift in capital flow towards dApps rather than the underlying blockchain infrastructure. Traders should consider reallocating investments to dApps, as they are becoming a more lucrative area within the cryptocurrency market.